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studies managers who participate repeatedly in a high-powered tournament incentive system, learning relative performance each …
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. Yet, the essence of the problem is arguably a political bias in decision making in favour of the interests of the present …
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personal experience -- a phenomenon that Tversky and Kahneman (1982) call availability bias. I embed this bias in an …
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Redundancy payments for collective dismissals are incorporated into a Shapiro-Stiglitz model of efficiency wages. It is shown that a fixed payment will lower wages, leave employment and welfare unaffected if there are no wage-dependent taxes, no additional firing costs and if unemployment...
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